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REGISTERED NUMBER: 06510679 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023

FOR

ASHBURN WEALTH MANAGEMENT LIMITED

ASHBURN WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 06510679)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


ASHBURN WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 06510679)

ABRIDGED BALANCE SHEET
30 JUNE 2023

2023 2021
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 514,709 515,303
514,709 515,303

CURRENT ASSETS
Debtors 17,820 115,181
Cash at bank and in hand 960,660 846,998
978,480 962,179
CREDITORS
Amounts falling due within one year 32,179 90,190
NET CURRENT ASSETS 946,301 871,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,461,010

1,387,292

CAPITAL AND RESERVES
Called up share capital 105 105
Share premium 18,995 18,995
Retained earnings 1,441,910 1,368,192
SHAREHOLDERS' FUNDS 1,461,010 1,387,292

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ASHBURN WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 06510679)

ABRIDGED BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2023 and were signed on its behalf by:





Mr. S. Waite - Director


ASHBURN WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 06510679)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


1. STATUTORY INFORMATION

Ashburn Wealth Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06510679

Registered office: Honeybourne Place
Jessop Avenue
Cheltenham
GL50 3SH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

An agreement was reached in October 2021 whereby Ashburn Financial Planning Limited, a wholly-owned subsidiary of Attivo Group Limited, would buy the shares in this company. The client base and personnel would be transferred across over a period of time while Ashburn Wealth Management Limited would continue to deal with certain administrative aspects of the business and incur associated costs including professional indemnity insurance and similar expenditure, until such time that the transition in operations was fully complete. After the balance sheet date, the company sold its freehold property and it is the intention that it will be placed into a Members Voluntary Liquidation (MVL) in due course. Whilst the company will therefore no longer be in operational existence in twelve months time and consequently cannot adopt the going concern basis for the preparation of its accounts, the directors are satisfied that the carrying values of the assets and liabilities are still appropriate as they are all considered to be fully recoverable and payable.

Turnover
Turnover represents fees and commission receivable from business transacted during the period.

Goodwill
Acquired goodwill is amortised in equal annual instalments over its estimated useful economic life from 4 to 10 years, depending on the nature of the business acquired.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

ASHBURN WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 06510679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2021 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£
COST
At 1 January 2022
and 30 June 2023 312,224
AMORTISATION
At 1 January 2022
and 30 June 2023 312,224
NET BOOK VALUE

At 30 June 2023 -
At 31 December 2021 -

ASHBURN WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 06510679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


5. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 January 2022 539,737
Disposals (3,589 )
At 30 June 2023 536,148
DEPRECIATION
At 1 January 2022 24,434
Eliminated on disposal (2,995 )
At 30 June 2023 21,439
NET BOOK VALUE
At 30 June 2023 514,709
At 31 December 2021 515,303

6. POST BALANCE SHEET EVENTS

As stated in note 2, an agreement was reached in October 2021 whereby Ashburn Financial Planning Limited, a wholly-owned subsidiary of Attivo Group Limited, would buy the shares in this company. The client base and personnel would be transferred across over a period of time while Ashburn Wealth Management Limited would continue to deal with certain administrative aspects of the business and incur associated costs including professional indemnity insurance and similar expenditure, until such time that the transition in operations was fully complete. After the balance sheet date, the company sold its freehold property and it is the intention that it will be placed into a Members Voluntary Liquidation (MVL) in due course.